Important upcoming events and publications for May 31 (GMT):
12:00 Germany Consumer Price Index. Risks for EUR: Moderate. May’s data is expected to show a slower growth rate to 1.6% y/y after a jump to 2.0% a month earlier. The data above forecast is favourable for the Euro.
12:30 Canadian GDP. Risks for CAD: high. In March, the economy is expected to grow by 0.3% m/m and 1.2% y/y. Throughout 2018, GDP growth had slowed, becoming one of the reasons for the formation of the downward trend of the currency. The data above forecast is favourable for the Canadian dollar.
12:30 U.S. Personal Income and Outlays. Risks for USD: moderate. Most recently, the markets have been paying greater attention to the core PCE price index, as an indicator of inflation monitored by the fed. From December to March, this figure fell from 2.0% y/y to 1.6%. Strong data can further support the dollar.
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
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